Declining charge-offs and aggressive cost containment contributed to a strong quarter for the Sears & Roebuck credit card despite continued erosion. Sears reported yesterday that its domestic full year, charge-off rate declined from 7.35% to 6.44% and delinquency (30+ day) decreased from 9.28% to 7.58%. However domestic credit card receivables dropped from $28.3 billion to $26.7 billion, a 6% change, during 1999. The domestic credit card yield also nosed down last year, from 20.18% to 19.58%. The effective financing rate and net interest margin also declined. The effective financing rate edged down from 6.00% to 5.77% and the net interest margin dropped from 14.18% to 13.81%. Overall Sears’ revenues from its credit division slipped 6% last year, from $4.6 billion to $4.3 billion. For more details on Sears, visit CardData ([www.carddata.com]).